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November 13, 2006 (Recessed Meeting)
<br />Exhibit J - Project Construction
<br />Kevin Gass, Project Executive with
<br />following completion dates:
<br />November 13, 2006
<br />November 13, 2006
<br />November 20, 2006
<br />December 5, 2006
<br />January 8, 2007
<br />July 17, 2006
<br />August 15, 2008
<br />May 1, 2009
<br />June 1, 2009
<br />Page 159
<br />Schedule and Critical Milestone Dates:
<br />Turner Construction, reviewed the
<br />Owner Acceptance and Approval of Amendment #2
<br />Release Pre-cast and Steel Subcontractors
<br />Board Approval of Amendment #2
<br />LGC Approval of Contract Amount
<br />Construction Commencement
<br />Substantial Completion of Administration Bldg.
<br />Owner Beneficial Occupancy of Admin. Bldg.
<br />Substantial Completion of Detention Center
<br />Owner Beneficial Occupancy of Detention Center
<br />There was a general discussion on the Basic Pilot Program sponsored by
<br />the Department of Homeland Security.
<br />Exhibit L - General Conditions:
<br />Mr. Mullins reviewed Faithful Gould's letter dated November 10, 2006
<br />and reported Turner Construction will respond to Faithful Gould's comments in
<br />writing within the next few days. In summary, Faithful Gould found Turner's
<br />combined General Conditions and Fee for Phase 2 to be 19.02 percent and a
<br />total of 15.51 percent for Phase 1 and 2, which is under the stated maximum
<br />allowed of 15.52 percent.
<br />Exhibit M - Value Engineering: (See above table.)
<br />Recess of Meeting
<br />Chairman Carruth recessed the meeting at 8:12 p.m. for a short break.
<br />The meeting reconvened at 8:26 p.m.
<br />Consider Approval of Amendment to Resolution Authorizing the Filing of an
<br />nnnl;na r;nn for Annroval of a Financing Agreement Authorized by N.C. General
<br />Statute
<br />Steve Cordell, the County's Bond Counsel, reviewed the revised
<br />Resolution authorizing the filing of an application for approval of a
<br />financing agreement as authorized by N. C. General Statute 160A-20. He
<br />reported the new not-to-exceed amount is $101,000,000.00 which is projected
<br />to cover the total financing of the project; the resolution authorizes County
<br />staff file an amended application with the LGC (Local Government Commission);
<br />approval of the resolution is the next step in securing financing for the
<br />construction project through Certificates of Participation (COPS); the
<br />financing cannot proceed until the resolution is approved; and a public
<br />hearing is required and has been advertised.
<br />John Day, County Manager, reviewed
<br />totaling $101,250,000.00 as follows:
<br />Contingency - $2,000,000.00; Furnishings -
<br />$1,000,000.00; Waterline - $1,000,000.00;
<br />$150,000.00; Driveway - $100,000.00; Fina
<br />Refinance of Current Loan - $15,000,000.00.
<br />the uses for the COPS funding
<br />Construction - $78,400,000.00;
<br />$2,000,000.00; Communications -
<br />Emergency Operations Center -
<br />ncing Cost - $1,600,000.00; anc
<br />Pam Dubois, Deputy County Manager, reviewed the funding sources
<br />totaling $101,250,000.00 as follows: Loan - $95,000,000.00; Available Cash -
<br />$5,250,000.00; and Other (Sales Tax Refunds/Interest Earnings) -
<br />$1,000,000.00.
<br />Mr. Cordell responded to a few questions from Board members.
<br />EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF
<br />THE COUNTY OF CABARRUS, NORTH CAROLINA
<br />The Board of Commissioners for the County of Cabarrus, North Carolina,
<br />met in regular session in the Commissioners' Meeting Room in the Cabarrus
<br />County Governmental Center in Concord, North Carolina, the regular place of
<br />meeting, at 6:00 p.m., on November 13, 2006, with Robert W. Carruth,
<br />Chairman, presiding. The following Commissioners were:
<br />PRESENT: Joni D. Juba, Carolyn C. Carpenter and Robert M. Freeman
<br />ABSENT: Coy C. Privette
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